Dollar stabilizes after Powell's testimony before US Senate

2019-07-11 18:04:32 GMT (Economies.com)
Dollar stabilizes after Powell's testimony before US Senate

US dollar steadied against most of the major currencies following Federal Reserve Chairman Jerome Powell's testimony before the US Senate earlier today.

 

Powell confirmed in his remarks today on what he pointed out in his testimony before the US House of Representatives yesterday, in which he stressed the risks and pressures facing the US economy and the uncertainty that lead to slower growth.

 

Powell said the trade disputes are hurting the US economy, affecting market confidence, and that the slowing global economic growth is casting a shadow over markets.

 

Economic data released today showed the number of jobless claims in the US fell by 13,000 to 209,000 last week, while the CPI rose 0.1% in June.

 

In terms of trade, the dollar index (against a number of major currencies) stabilized by 97.1 points at 17:30 GMT, reaching a high of 97.1 points and a low of 96.8 points.

 
 
 
  Symbol Last Change Chg.%
1.1259
-0.0014
0.1215%
1.2516
-0.0059
0.4692%
15.394
0.176
1.155%
59.547
-0.785
1.301%
66.47
0.00
0.00%
1413.565
-1.930
0.136%
 
 
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